Remove Housing Market Remove Loan Officers Remove Realtors Remove Sellers
article thumbnail

How loan officers are dealing with surging rates and record-low inventory 

Housing Wire

The combination of an economic uncertainty, high mortgage rates and persisting affordability challenges will further reduce purchase demand, which keeps Monson and thousands of loan officers up at night. I see a lot more low credit scores, funky income, foreign nationals or bank statement loans,” he said. ” Monson said.

article thumbnail

Even super hot housing markets like LA are cooling off

Housing Wire

Our local market feature spotlights five different areas across the country for each HousingWire Magazine. Local real estate agents, loan officers and appraisers from each city share what characteristics are currently defining their housing markets. Rapid City, South Dakota. Rapid City, South Dakota. Bend, Oregon.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

LendingPulse Q2 2023 survey: Mortgage pros share their biggest concerns, market outlook

Housing Wire

Economic and Housing Market Outlook Amid the Federal Reserve ‘s efforts to tame inflation, 44.5% A total of 45% of participants said home sales in their markets will remain flat for the next three months; 30.3% Of the 155 completed surveys, 32.3% of the respondents were from the Southwest, 21.3% from the Midwest, 16.8%

Mortgage 297
article thumbnail

Flyhomes looks to grow via wholesale channel

Housing Wire

While many proptech companies have struggled to adapt to the slower housing market conditions and challenging venture capital environment, Flyhomes is viewing this as a time to grow. While Yen likes the product, she feels it is best handled by senior loan officers like herself, a nearly 30-year veteran of the industry.

article thumbnail

Buydowns become key for buyers to beat the market

Housing Wire

What helped Erica Davis, a loan originator at Guild Mortgage , in the current high-rate environment is a seller-funded temporary 2-1 rate buydown. In a high-rate environment, lenders call the temporary rate buydown a win-win strategy for both sellers and buyers when used appropriately. in the second year.

Buyers 463
article thumbnail

‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

These housing professionals have been gaming out the potential impact on buyers’ agents – a significant source of referrals. Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down.

Buyers 498
article thumbnail

Mortgage rates might soar even higher

Housing Wire

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. million units last month from July, according to the National Association of Realtors (NAR). million existing homes on the market in August and would take 3.2 year-over-year.

Mortgage 398